Could the Beetle eventually find new life once again? Woebcken hinted it's possible.

“As we move to being a full-line, family-focused automaker in the U.S. and ramp up our electrification strategy with the MEB platform, there are no immediate plans to replace it," he said. "But as we have seen with the I.D. Buzz – which is the modern and practical interpretation of the legendary Bus – I would also say, ‘Never say never.’ "

VW sold 15,166 Beetle models in the U.S. in 2017, down 3.2 percent. The current generation model has been in production in Puebla, Mexico, since 1997, VW said.

The car first hit the U.S. in 1949.

Passenger car sales have been plunging in the U.S. in recent years as American preferences shift to larger vehicles.

“In this environment the business case for cars in general, and small cars in particular, becomes increasingly difficult to justify," wrote Karl Brauer, executive publisher of Kelley Blue Book and Autotrader. "Anyone surprised or disappointed by this announcement better prepare themselves. In the months to come more automakers will be announcing more iconic model cancellations."

The 2019 Beetle will include convertible and coupe versions, each powered by 2-liter gas engines with 174 horsepower, a six-speed automatic transmission and average fuel economy of 29 miles per gallon.

Pricing starts at $23,045 for the coupe and $27,295 for the convertible.

VW is under pressure from investors to bolster its profitability under new CEO Herbert Diess.

A Volkswagen beetle, a 1960 model with a sliding top, is tested by technicians of the Paris Volkswagen devision to prove to what extent the body of the beetle is watertight and submerged half the car in the river Seine, Paris, France, Oct. 4, 1960. AP

This is an ad featuring Heidi Klum on a talk show hosted by a VW Beetle named Max, a 1964 beetle, who stars as the voice and face for the VW brand in a new campaign, March 2008. Volkswagen was rolling out a classic Beetle as the brand's face and voice in a quirky TV, Web and print ad campaign. VOLKSWAGEN

Visitors stand behind a Vochol, an art Volkswagen Beetle that has been decorated with traditional Huichol (Wirrarika) beadwork from the center-west of Mexico, at the International Transport Forum 2017 Summit in Leipzig, Germany, May 31, 2017. JENS MEYER, AP